Thursday, June 30, 2016

Redstone's Signature Looms Over Viacom Drama


Sumner Redstone will almost certainly not be in a Massachusetts courtroom on Thursday when his attorneys and those representing Viacom convene for a hearing that may shape the future of his media empire.

CNN Money reports that while public appearances by the 93-year-old Redstone, Viacom's controlling shareholder, have become rare. But public pronouncements by him have not.

In a court filing last week, Redstone chastised Viacom CEO Philippe Dauman, who has argued that the aging mogul is being manipulated by his daughter, Shari Redstone.

On Tuesday, Redstone signed his name (above) to another public rebuke of Dauman -- a letter from the board directors of National Amusements, the Redstone-owned movie theater chain that controls 80% of Viacom's voting stock.

Redstone's signature on documents designating Dauman to make health care decisions for him
Tuesday's letter provided, by way of Redstone's signature, a reminder of the central issue in a convoluted legal drama concerning Redstone's competency.

Dauman and Viacom board member George Abrams have asked a judge in suburban Boston to order an immediate medical examination of Redstone. Viacom lead independent director Fred Salerno requested the same of a Delaware court last week.

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